Social Security checks for retirees could rise by $73 a month in 2027. Experts want to change how COLA increases are calculated.
Forecasts for next year’s Social Security cost-of-living adjustment (COLA) have edged lower, with the average retiree now projected to receive around $70 more a month in benefits in 2027, according to experts.The AARP on Wednesday revised its forecast to a 3.5% increase in payments for retirees, slightly down on last month’s previous estimate of 3.6%.AARP’s projection puts the average monthly Social Security benefit for a retiree at $2,086 in July, » Read more about: Social Security checks for retirees could rise by $73 a month in 2027. Experts want to change how COLA increases are calculated. »
Read MoreHere’s the date when Social Security would only be able to pay 78% of benefits
Social Security beneficiaries are facing a looming deadline that could result in significant cuts to their monthly payments.
The latest projections from the Social Security Board of Trustees show the reserves of the Old-Age and Survivors Insurance Trust Fund are set to run out in the fourth quarter of 2032.
» Read more about: Here’s the date when Social Security would only be able to pay 78% of benefits »
Read MoreWhy the US economy is ringing alarm bells
What with a 250th birthday, Taylor Swift’s wedding and the football World Cup, Americans could be forgiven for taking their eye off the ball this summer.
But signs of economic trouble have been building. This week they hit the headlines when US national debt passed the $40tn (£29.4tn) mark, raising concerns both at home and abroad.
» Read more about: Why the US economy is ringing alarm bells »
Read More8 Stocks Nvidia Has Invested In
With a market capitalization of nearly $5.5 trillion, high-end chipmaker Nvidia Corp. (ticker: NVDA) is the most valuable company in the entire U.S. stock market.
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Its largest customers include companies like Microsoft Corp.
» Read more about: 8 Stocks Nvidia Has Invested In »
Read MoreTrump's Canada auto tariffs could end up denting US GDP: Oxford Economics
President Trump’s threatened 50% tariffs on Canadian autos, trucks, and car parts and the ensuing trade war could hit an already weakened US economy, warns a new report from Oxford Economics.
Oxford Economics said it will revise its US tariff assumptions higher in its September baseline forecast to reflect a breakdown in US-Canada trade talks over the weekend.
» Read more about: Trump's Canada auto tariffs could end up denting US GDP: Oxford Economics »
Read MoreThe Burst
Did Zuckerberg Just Have His iPhone Moment?
Last week Mark Zuckerberg unveiled Meta Platforms (NASDAQ: META) latest hardware product, Orion augmented reality glasses,
As it ventures deeper into the world of AR and wearable technology, there’s a very real possibility that this is Meta’s “iPhone moment,” revolutionizing the tech landscape as Apple’s iconic smartphone did in 2007.
» Read more about: Did Zuckerberg Just Have His iPhone Moment? »
Read MoreThe Ivy
Philip Morris Surges 75%, Is Its Smoke-Free Pivot a Game Changer?
Shares of cigarette giant Philip Morris (NYSE:PM) have advanced considerably over the last year. The tobacco stock, long looked at mostly for its high dividend yield, has surged by over 75% in the last 12 months and over 20% in the last 30 days alone.
Why has PM stock rallied so far,
» Read more about: Philip Morris Surges 75%, Is Its Smoke-Free Pivot a Game Changer? »
Read MoreThe Spotlight
Spotlight: Should Sweetgreen Be 50% Higher?
CAVA debuted on the New York Stock Exchange on June 16, selling 14.4 million shares and raising a cash hoard of $318 million at a valuation just under $2.5 billion.
Eagle-eyed investors were stunned to see the share price soar by as much as 117%, before ultimately closing at $43.78 per share, slightly above its $42 open.
» Read more about: Spotlight: Should Sweetgreen Be 50% Higher? »